when we sell machinery then what will be the entry passes in machinery account chapter depreciation
Answers
Explanation:
Concept of Written Down Value Method of Depreciation: ... (b) The asset can never be reduced to zero. ... Original cost of asset sold as on 1-1-99 Rs. 5,000.
Explanation:
when we sell machinery then what will be the entry passes in machinery account chapter The assets used in the business can be sold anytime during their useful life. It is not necessary to keep an asset until it is scrapped. On the disposal of asset accounting entries need to be passed. The asset may be sold at profit or loss. Let us take a look at the accounting effect for the same.
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